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Tag: Congress

Pentagon sends Space Force proposal to Congress

Pentagon sends Space Force proposal to Congress

Business
March 1 (UPI) -- Proposed legislation to form a Space Force, a sixth branch of the U.S. Armed Forces, was sent to Congress, the Defense Department announced on Friday. The legislation follows a directive in February from President Donald Trump. If approved, it would make a Space Force equal in status to the Army, Navy, Marine Corps, Air Force and Coast Guard, and the first new service branch since the Air Force was established in 1947. The proposal calls for $ 50 million to establish the branch, with headquarters in the Pentagon, and an eventual budget of about $ 500 million. That figure amounts to 0.07 percent of the annual Defense Department budget. It also calls for establishment of the Space Force within the Air Force, with a four-star Chief of Staff in charge, who would have a seat ...
Social Security expansion bill poised to gain traction in Congress

Social Security expansion bill poised to gain traction in Congress

Finance
As Social Security's funding problems loom ever closer on the horizon, the program has emerged as a pet project on many lawmakers' fix-it list. Now in control of the House, Democrats have thrown their weight behind a measure that would extend and expand the program — largely by asking high earners to pony up, along with a gradual increase in the Social Security tax rate that applies to workers' income. "Democrats have agreed that we should expand, not cut, Social Security and have the wealthy pay their share," said Nancy Altman, president of advocacy group Social Security Works. ...
Venezuela quells soldiers' revolt, top court blasts congress

Venezuela quells soldiers' revolt, top court blasts congress

World
Venezuela plunged deeper into turmoil Monday as security forces put down a pre-dawn uprising by national guardsmen that triggered violent street protests, and the Supreme Court moved to undercut the opposition-controlled congress' defiant new leadership. Socialist party chief Diosdado Cabello said 27 guardsmen were arrested and more could be detained as the investigation unfolds. The mutiny struck at a time when opposition leaders have regained momentum in their efforts to oust President Nicolas Maduro. They have called for a nationwide demonstration Wednesday, urging Venezuelans — especially members of the armed forces — to abandon Maduro. The uprising triggered protests in a poor neighborhood just a few miles (kilometers) from Venezuela's presidential palace. It was dispers...
Last-minute tax break bill likely won't pass in Congress

Last-minute tax break bill likely won't pass in Congress

Finance
If you were planning on nabbing a deduction for your mortgage insurance or your college expenses, prepare to sit tight. That's because these and other breaks that are known as the "tax extenders" are bundled into newly proposed legislation that's likely going nowhere fast, according to policy experts. The House Ways and Means Committee proposed a package of tax provisions on Monday, known as the Retirement, Savings and Other Tax Relief Act of 2018 and the Taxpayer First Act of 2018. In addition to renewing the "tax extenders" for the 2018 tax year, Wa...
Crypto industry leaders warn Congress: Figure out regulation, or watch innovation leave the US

Crypto industry leaders warn Congress: Figure out regulation, or watch innovation leave the US

Finance
The cryptocurrency industry has a plea for Congress: Hurry up and regulate, please. More than 50 industry participants gathered on Capitol Hill for a roundtable discussion hosted by Rep. Warren Davidson, R-Ohio, Tuesday. Although attendees varied, none were from anti-establishment groups popular in the cryptocurrency space, nor did they include retail investors who bought bitcoin as a speculative bet. Instead, experts from Fidelity, Nasdaq, State Street, Andreessen Horowitz, and the U.S. Chamber of Commerce filled a room in the Library of Congress. There, they politely but firmly addressed what they deemed unsolved issues as ...